Info!! Indicator Review For June 30Th

most recent indicator review institute continuing marketplace weakness and, in i lawsuit again, we've seen to a greater extent than of the same this by week. The adjusted Demand/Supply Index (top chart) in conclusion hitting the -30 degree that has been typical of intermediate-term marketplace lows over the by few years, which suggests a real oversold market. On the mode to that level, however, we've seen an expansion inwards the number of NYSE, ASE, in addition to NASDAQ stocks making fresh 65-day lows (middle chart) in addition to a breakdown inwards the advance-decline business specific to NYSE mutual stocks (bottom chart; credit to recent await at the market's technical strength institute that the weakness has affected close of the major sectors. Only 17% of S&P 500 Index ($SPX) stocks are trading higher upwards their 50-day moving averages; that number is solely 13% for NASDAQ 100 Index ($NDX) issues in addition to 3% for Dow Industrials ($DJI) shares. Small caps accept been stronger, amongst 22% of S&P 600 Index ($SML) stocks higher upwards their 50-day benchmarks.

Among NYSE mutual stocks, nosotros had 24 stocks making 52-week novel highs on Fri against 289 lows. That compares to over 300 novel lows at the March bottom in addition to over 700 at the Jan bottom. Large cap issues--particularly inwards the Dow--are much weaker instantly than at those 2 prior junctures, but we've seen around residuum line amid modest cap in addition to midcap shares. For example, nosotros had solely 52 novel annual lows amid S&P 400 midcap stocks ($MID) in addition to 65 amid S&P 600 modest caps. Both those numbers are good below their Jan in addition to March peaks.

The bottom business is that nosotros are at oversold levels that historically accept led to intermediate-term bottoms, but we're non yet seeing signs of buyer involvement inwards stocks. To the contrary, we've seen a steady weakening of the marketplace indicators. As long equally that's the case, it's been unsafe to displace to grab the market's falling knives.
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